#117: Author and financial advisor Ben Carlson joins Chris to share insights on the current state of the market. They discuss the impact of aggressive Fed rate hikes and the unintended consequences, including the debt ceiling and regional bank collapses. Ben also shares his expertise on where to park cash, comparing I bonds, high-yield savings, short-term Treasury ETFs. Finally they offer strategies for buying a home and lowering mortgage payments in this high-rate environment.
Ben Carlson (@awealthofcs) is a prominent figure in the financial world, recognized for his popular blog A Wealth of Common Sense that covers a wide range of financial subjects. He is an accomplished author of four books and the Director of Institutional Asset Management at Ritholtz Wealth Management, where he helps individuals and institutions navigate the complexities of investing and personal finance. He's also the host of one of my favorite podcast's Animal Spirits.
Link to Full Show Notes: https://allthehacks.com/market-update-ben-carlson
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Resources Mentioned
Ben Carlson: A Wealth of Common Sense | Animal Spirits Podcast | Twitter
Ben’s Books:
Finance Apps
ATH #42: Beating Inflation, Alternative Assets, and Simplifying Your Finances
ATH #91: Die With Zero: Net Fulfillment Over Net Worth
Historical Fed Funds Rates
JP Morgan Study: The Agony & the Ecstasy 3.0
Treasury Direct: I bonds
BiggerPockets Real Estate Podcast
Tesla Auto Loan Spreadsheet
Full Show Notes
(02:26) The Current State of the Markets
(03:41) Reason Behind Aggressive (Unprecedented) Fed Rate Hikes
(05:23) Unintended Consequences: Debt Ceiling and Regional Bank Collapses
(06:54) Chris’s Experience with SVB
(10:03) Next Steps for Average Investors
(11:13) Ben’s Advice to Clients
(14:10) Preparing Personal Finances for Recession
(15:26) The Tech Recession
(21:46) Classifications of Tech Companies
(24:32) The Role of Cash in an Investment Portfolio
(26:33) What Happens When the Rates Drop?
(28:57) The Duration of Current Rates
(30:13) The Use of I Bonds
(31:34) Investing in High Yield Savings vs. Short Term ETFs
(33:47) The Need for an Emergency Fund
(36:13) Exploring Future Employment Opportunities
(37:19) Buying a Home in a High Rate Environment
(40:53) Strategies to Lower Mortgage Payments
(49:11) Maximizing Net Fulfillment
(50:48) Optimizing the Home Buying Experience
(52:53) Auto Loans
(54:12) Credit Unions
(55:00) Student Loans
(55:48) Ways to Estimate Risk and Potential Upside
(57:40) Ben’s Recommendations for Financial Services
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